Asia-Pacific markets were mixed on Friday after inflation in the U.S. came in lower than expected, raising hopes markets could see a “soft landing” in the inflation fight.
Markets in Japan were shuttered for holiday.
In Hong Kong, the Hang Seng crumbled 173.07 points, 0.9%, to 19,075.19.
Stateside, July consumer prices gained 3.2% on an annual basis, less than the 3.3% consensus from economists polled by Dow Jones. On a month-to-month basis, inflation increased 0.2%, in-line with estimates.
The report also said real average weekly earnings were unchanged last month in another positive sign.
However, the core inflation rate — which strips out prices of food of energy — was at 4.7%, the lowest since October 2021 and lower than the 4.8% expected.
In other markets
In China, the CSI 300 slid 91.47 points, or 2.3%, to 3,884.25.
In Taiwan, the Taiex index lost 33.45 points, or 0.2%, to 16,601.25.
In Singapore, the Straits Times Index dropped 28.65 points, or 0.9%, 3,294.28.
In Korea, the Kospi Index let go of 10.3 points, or 0.4%, to 2,591.26.
In New Zealand, the NZX 50 recovered 24.94 points, or 0.2%, to 11,836.71.
In Australia, ASX 200 subtracted 17.26 points, or 0.2%, to 7,340.13.
